Final answer:
Due to the Tax Cuts and Jobs Act, Grace is unable to claim any miscellaneous itemized deductions on Schedule A for tax years 2018 through 2025, unless there are changes in legislation.
Step-by-step explanation:
Grace can claim miscellaneous itemized deductions subject to two limitations: the deduction is only available if the total of the miscellaneous deductions exceeds 2% of her adjusted gross income, and certain deductions, such as those related to tax preparation fees and unreimbursed employee expenses, are no longer allowed as of 2018. Therefore, Grace can only claim the amount of miscellaneous itemized deductions that exceed 2% of her adjusted gross income, and this amount will depend on her specific deductions and income.
The question asks how much in miscellaneous itemized deductions Grace can claim on Schedule A. For tax years 2018 through 2025, the Tax Cuts and Jobs Act suspends the deduction for miscellaneous itemized deductions that would be subject to the 2% floor under prior law. Therefore, unless legislation changes, Grace would not be able to claim any miscellaneous itemized deductions for expenses such as investment fees, unreimbursed employee expenses, or tax preparation fees on her Schedule A during those years.